German investment company gets UniBank stake

Published: 4 June 2005 y., Saturday
Print icon twitter icon facebook icon Send mail icon Print icon

The Deutsche Investitions und Entwicklungsgesellschaft mbH (DEG) has acquired a 8.33% stake in UniBank, a major local bank with a special focus on small and medium enterprise (SME) development.

DEG and UniBank signed a relevant agreement on Wednesday, along with a long-term agreement on allocation of a $3 million loan to finance the SME sector in Azerbaijan.

The signing ceremony held on the occasion of the Germany-Azerbaijan business conference was attended by Economic Development Minister Farhad Aliyev.

UniBank has been a project partner of KfW Bankengruppe, receiving technical and financial assistance from KfW Entwicklungsbank. The European Bank for Reconstruction and Development (EBRD) has been a shareholder of UniBank since 2003.

DEG is one of the largest European financial institutions that has been financing investments of private companies in developing and transition countries for over 40 years.

Šaltinis: Baku Today / Assa Irada
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

EU and Vietnam sign off on a deal that will boost air transport

An aviation agreement has been signed today by the European Union and the Vietnamese authorities which will remove nationality restrictions in the bilateral air services agreements between EU Member States and Vietnam. more »

Business And Eeconomics
Published: 04/10/2010

The EIB celebrates its 30th year of activity in Cyprus with a EUR 180 million financing for urban environment

The European Investment Bank marked the 50th anniversary of the Republic of Cyprus and its 30 years of activity in the country with a public ceremony celebrating the signature of a total of EUR 180 million for urban environment. more »

Business And Eeconomics
Published: 01/10/2010

Tighter rules on government deficits

In response to the financial crisis, the Commission has put forward legislative proposals to strengthen and expand existing tools for coordinating economic and fiscal policy in the EU. more »

Business And Eeconomics
Published: 30/09/2010

SME Finance Forum: Ensuring access to credit and to finance to small businesses

In the first meeting of the SME Finance Forum, possible means to improve the current situation of access to finance were discussed, such as the introduction of a grace period for firms in difficulties, the involvement of credit mediators and improved loan guarantees. more »

Business And Eeconomics
Published: 29/09/2010

The EU budget, a guide

The EU budget is no simple matter, but then no budget ever is. more »

Business And Eeconomics
Published: 28/09/2010

Trichet: Parliament must play a central role in forging the new economic governance model

Parliament will be crucial in avoiding a “lowest common denominator” approach when helping to design the EU's new economic governance architecture, ECB president Jean-Claude Trichet told the Economic and Monetary Affairs Committee on Monday. more »

Business And Eeconomics
Published: 28/09/2010

European Day of Languages 2010: Languages for business

With a multitude of language-related events taking place on or around 26 September, the main themes for this year's European Day of Languages are business and jobs. more »

Business And Eeconomics
Published: 27/09/2010

Commission pays € 1.15 billion in Balance of Payments support to Romania

The EU disbursed today € 1.15 billion to Romania, the third instalment of a € 5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package. more »

Business And Eeconomics
Published: 24/09/2010

European Investment Bank supports GBP 250m gas network expansion and upgrade in Scotland and southern England

The European Investment Bank has agreed to lend GBP250 million for the replacement, reinforcement and expansion of the gas distribution networks operated by Scotland Gas Networks and Southern Gas Networks. more »

Business And Eeconomics
Published: 22/09/2010

Fair food prices: new legislation needed, say MEPs

The bargaining positions of all players in the human food chain must be rebalanced, and fair competition enforced by law, to ensure fair returns to farmers and price transparency to consumers, says Parliament in a resolution voted on Tuesday. more »

Business And Eeconomics
Published: 08/09/2010

Top News

Penki kontinentai BS/2 ASHBURN International SUNM